Irish Cattle & Beef Market Update on Tight Supply
Cattle & Beef Market Update
With cattle availability for processing remaining tight across much of Europe and the UK, the deadweight cattle trade has continued to perform strongly. The tightness in beef availability combined with stable demand for beef in key export markets has contributed to the recent uplifts in the deadweight beef trade.
Quotes from major processors for prime cattle have continued to trend upward, with the balance between supply and demand currently in favour of producers. Base quotes for steers are in the region of €6.80-€6.90/kg, while quotes for 8th March 2025 range around €7.00-€7.10/kg. Reports have indicated higher prices have been negotiated with producer groups and factories offering increased bonuses. R grading young bulls under 24 months of age are steady, generally working off a base of €7.10-€7.20/kg.
The cow trade also remains very strong but has taken a further jump this week with strong demand for well-fleshed cows in particular. R grading cows are being quoted at €6.80/kg, while quotes for O grading cows range from €6.50-€6.60/kg depending on quality and carcase weight. Meanwhile, factories are quoting for well-covered P grading cows generally starting at €6.25-€6.30/kg with room for negotiation.
For the week ending 2nd March 2025, the Irish R3 steer price increased by 13c/kg to €6.61/kg, while the R3 heifer price increased by 15c/kg to €6.62/kg. Irish prices continue to trend higher than the EU average, although in the last few weeks prices have recorded similar levels of increase across the trading bloc as cattle supplies tighten.
The average R3 young bull price in the EU last week was €6.22/kg, up 6c/kg from the previous week. In the UK, tighter cattle supplies and firm demand have meant deadweight beef prices have continued to firm. This week, the average UK R3 steer price increased by 1c/kg to €7.61/kg. Note that reported prices exclude VAT but include all bonus payments such as in-spec bonus, breed-based producer groups, etc.
Throughput:
There were 38,528 cattle processed in DAFM approved plants last week, an increase of just over 1,600 head from the same week in 2024. Total cattle throughput for the first 10 weeks of the year is on par with 2024 levels at 363,090 head.
However, cattle availability for slaughter is expected to contract in the weeks ahead. A strong live export trade and the processing of cattle at younger ages and lighter carcase weights in quarter 4 of 2024 have contributed to a contraction in cattle numbers of slaughter age currently on farms. Average carcase weights have continued to trend below previous years, and this downward trend in average carcase weights is expected to continue in the short to medium term, with calf registrations to suckler cows continuing to decline, while the number of beef-sired calves produced from the dairy herd continues to increase.
